Arvinas, Inc. (NASDAQ:ARVN) Short Interest Update

Arvinas, Inc. (NASDAQ:ARVN) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 10,670,000 shares, a decline of 16.4% from the September 15th total of 12,760,000 shares. Based on an average daily trading volume, of 647,700 shares, the days-to-cover ratio is presently 16.5 days.

Arvinas Trading Up 0.9 %

Shares of NASDAQ ARVN opened at $25.90 on Wednesday. The stock’s 50-day moving average is $25.12 and its 200 day moving average is $28.64. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -4.37 and a beta of 1.97. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.59. The business had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $33.27 million. During the same period last year, the business posted ($1.25) earnings per share. The company’s revenue was up 40.4% compared to the same quarter last year. On average, analysts forecast that Arvinas will post -3.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARVN has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Tuesday, July 30th. HC Wainwright reiterated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Barclays decreased their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Oppenheimer reduced their target price on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.50.

Institutional Trading of Arvinas

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Arvinas in the fourth quarter worth about $266,000. Vanguard Group Inc. increased its stake in Arvinas by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 4,851,390 shares of the company’s stock worth $199,683,000 after purchasing an additional 243,167 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Arvinas in the fourth quarter valued at approximately $3,046,000. Los Angeles Capital Management LLC boosted its stake in shares of Arvinas by 7.1% during the first quarter. Los Angeles Capital Management LLC now owns 29,882 shares of the company’s stock valued at $1,234,000 after purchasing an additional 1,993 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Arvinas by 71.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 61,862 shares of the company’s stock worth $2,554,000 after purchasing an additional 25,778 shares during the last quarter. 95.19% of the stock is owned by institutional investors.

About Arvinas

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body’s own natural protein disposal system to degrade and remove disease-causing proteins.